Dr. Ron Paul is a Republican Congressman from Texas, medical doctor, and military veteran who believes in liberty, freedom, and personal responsibility.
“None are more hopelessly enslaved than those who falsely believe they are free.” Johann Wolfgang von Goethe, 1749-1832

Sunday, March 6, 2011

When Whalen describes the workings of the first and second Banks of the United States, much of it feels like a precursor to later debates regarding the Federal Reserve. In this light, Rep. Ron Paul comes across as a modern-day Andrew Jackson, whose battle with the Bank of the United States is retold while also placed in the context of current events.

The book reminds us that most wars are financed not by direct taxation, but through inflation and debt. The American experience has been little different from the experiences of other countries. Beginning with the financing of the Civil War and ending with the Cold War, Whalen draws out the connections between paying for war and its broader impacts on the financial markets.

In fact, the history surrounding the creation of the national banking system offers a useful reminder that much of it was expressly designed with the intention of providing a ready source of demand for government debt.

A Daily Bell interview of John Perkins, a self-proclaimed economic hit man, has some interesting ideas.

Daily Bell: What do you think of the Bank for International Settlements? Is it true that it has worldwide and absolute immunity? Why does a central bank for central banks need sovereign immunity? How is that even enforceable?John Perkins: It's enforceable because that's the way the laws are written in all the various countries that we inhabit. As long as the people who are running the banks and corporations also control politicians, which today they do around the world, then they get to write the laws.

John Perkins: The problems are pretty self-evident; we have created a world where 5% of us in the United States consume about 30% of the world's resources. The system that we created is a total failure and it causes tremendous misery. People often talk about the prophet of 2012 and Mayan prophecy of doomsday, but I think more than half the people of the world have already met doomsday. They are living in dire poverty and starving to death or on the verge of starvation, so we have created a world that is its own doomsday.

John Perkins: ... we have been sending a very strong message that says we want cheap goods and services even if it means being socially and environmentally irresponsible. We have to send a new message. We have to send the message that we want a just and peaceful world. Stop the desperation and the exploitation

Saturday, March 5, 2011

David Andolfatto, Vice President in the Research Division of the Federal Reserve Bank of St. Louis, found it easier to call Ron Paul names than to construct a rational argument based on facts. Even over-payed Fed economists can't compete with Ron Paul's economic knowledge.

Starting an article by calling a person names is biased. And working for the third central bank of the United States also makes David. Those who work for the Fed know their cushy high-paying jobs are nearing the end. Therefore, they are attacking the messenger. It would be more productive to attack the failings of a command-and-control private monopoly bank known as the Federal Reserve.

Friday, March 4, 2011

Ron Paul asks Ben Bernanke what is a dollar. This is a very important question.

Ron Paul: "What is your definition of a dollar."Ben Bernanke: "My definition of a dollar is what it can buy."

Bernanke's answer says the dollar is backed by nothing. Meanwhile, Bernanke blames the rising price of oil for causing inflation. Actually, The Federal Reserve and Ben Bernanke are causing inflation, which causes the higher oil price. Bernanke is causing the problem, and then blames inflation on the problem he created!